Why Build a Lil VRGDA Sandbox?

1. To test out an innovative VRGDA minting mechanism for lil nouns
2. So buyers can purchase lils in one step
3. To fix the burn issue which threatens quorum
4. To develop a more engaging lilblockparty.wtf style sniping process into the primary minting mechanic

this proposal is inspired by lilnouns idea 82

WTF is VRGDA?

Variable Rate Gradual Dutch Auction. This mechanism let Lil Nouns sell tokens close to a custom schedule over time by raising prices when sales are ahead of schedule and lowering prices when sales are behind schedule. [Paradigm explainer]

Spec & Design goals

• One step flow - Purchase, mint, and settle in a single transaction
• Dynamic pricing based on linear VRGDA rules to allow for more revenue capture and eliminate burned lils
• Gamification: Lil Block Party style trait generation - The traits of the noun for sale change each block, so users must act quickly to purchase the noun, or it will expire and the transaction will revert

mockup by @adelidusiam